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Federal regulations · Through 2026-08-25 · Newer source version available

22 CFR 201.71: Terms of letters of credit.

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Where this section sits in the code
  1. Title 22—Foreign Relations
  2. CHAPTER II—AGENCY FOR INTERNATIONAL DEVELOPMENT
  3. PART 201—RULES AND PROCEDURES APPLICABLE TO COMMODITY TRANSACTIONS FINANCED BY USAID
  4. Subpart H—Rights and Responsibilities of Banks

Any letter of credit issued, confirmed or advised under an USAID letter of commitment and any agreement relating to such letter of credit or to instructions for payment issued by an approved applicant shall not be inconsistent with or contrary to the terms of the letter of commitment. Any such letter of credit or agreement may be modified or extended at any time in such a manner and to such extent as is acceptable to the approved applicant and the bank: Provided, That such modification or extension may not be inconsistent with or contrary to the terms of the letter of commitment. In the case of any inconsistency or conflict between the terms and conditions of the letter of commitment and the instructions of the approved applicant, the terms and conditions of the letter of commitment shall control.

Collected 2026-08-27T02:24:49Z. Source file · JSON

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